UK - The £2.6bn (€3.8bn) Essex County Council Pension Fund has awarded a £1bn currency overlay mandate and a £150m unconstrained equity mandate.
Mellon Global Investments and Record Currency Management will equally share the currency mandate set up to further diversify its portfolio but Record is also charged with hedging a proportion of the currency exposure associated with the overseas equity portfolio.
Alliance Bernstein Institutional Investments also won the tender for the unconstrained equity mandate.
Elsewhere, the £340m London Borough of Havering Pension Fund has replaced PSolve Investment Consultants with Hymans & Robertson.
And the £890m Shropshire County Council Pension Fund chose Arlington Property Investors for a £43m pan-European property mandate.
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